October 4, 2010 / 12:53 AM / 9 years ago

Philippines - Market factors to watch - Oct 4

 MANILA, Oct 4 (Reuters) - Here are news stories and press reports which may influence local financial markets on Monday:
 WHAT IS HAPPENING TODAY IN THE PHILIPPINES, ALL TIMES LOCAL FOLLOWED BY GMT
 - Central bank to release second quarter report on economic and financial developments
 - U.S. Ambassador Harry Thomas talks to foreign correspondents, Mandarin Hotel, 9-11 a.m. [0100-0300 GMT]
 - Bureau of Treasury to hold T-bill auction, 1 p.m. [0500 GMT]
 - Finance Secretary Cesar Purisima is guest at the launching of the Food Supply Chain Program at the 10th floor, Landbank Plaza, Malate, 9 a.m. [0100 GMT]
 - Plenary deliberation on the proposed 2011 national budget at the House of Representatives, 10 a.m. [0200 GMT]
 REUTERS NEWS - PHILIPPINES > Manila CPI seen inching up in Sept,rates on hold[ID:nSGE68TOFA] > Manila Sept coconut oil exports down 7.5 pct y/y[ID:nSGE690051] > Aquino's support for contraception angers Church[ID:nSGE690057]
 LOCAL PRESS REPORTS
 (Reuters has not verified these stories)
 - The World Bank said it would want to take part in the government's public-private partnership programme, adding it was prepared to provide financing if the government would require it. (PHILIPPINE DAILY INQUIRER)
 - The Department of Finance has rejected proposals to exempt electricity sales from the value-added tax, saying the proposed tax break would deny the government 12 billion pesos ($273 million) a year in revenue and would mainly benefit high-income earners. (PHILIPPINE DAILY INQUIRER)
 - State pension fund Social Security System plans to collect 19 billion pesos from past-due loans extended to its members within three years including 4.54 billion pesos this year. (THE PHILIPPINE STAR)
 - The Philippine Stock Exchange attracted 11.4 billion pesos in net foreign buying in the first nine months of the year, helping fuel the recent stock market run-up to historic highs. (PHILIPPINE DAILY INQUIRER)
 - Petron Corp (PCOR.PS), together with unlisted Two San Isidro SIAI Assets Inc, formed a 3.4 billion pesos new company that will engage in the power generation business, according to documents filed with the Securities and Exchange Commission. (THE PHILIPPINE STAR)
 - Metro Pacific Investments Corp (MPI.PS) is in talks with several Manila-based hospitals for possible equity investments or outright acquisition, the company's top official said. (THE PHILIPPINE STAR)
 - The House of Representatives Committee on Ways and Means has given its technical working group two weeks to study, compare and reconcile all four excise tax proposals for alcohol and cigarettes pending in the committee. (THE PHILIPPINE STAR)
 - The Bureau of Internal Revenue looking at reducing the tax perks enjoyed by the stock market given the negligible number of ordinary Filipinos trading shares, with the government losing about 1 billion pesos annually from an exemption of stock market transactions from the documentary stamp tax. (THE MANILA TIMES)
 - Net foreign portfolio investments breached the $1 billion mark in the first two weeks of September, Philippine central bank data showed. (THE PHILIPPINE STAR)
 MARKET NEWS > Asian shares to rise, Chinese data inspires  
[nSGE692026] > Wall St extends rally,resource stocks outperform [nN01280102] > Oil rises 6 pct on week, the most since February [nSGE69005H] > Dollar falls broadly,touches 6-month low vs euro [nN01189401] > Gold at record for 6th day on monetary easing hope[nLDE6900UA] ---------------- MARKET SNAPSHOT AT 0031 GMT -------------------
               INSTRUMENT    LAST      PCT CHG       NET CHG S&P 500           .SPX        1146.24      0.44         5.04 USD/JPY           JPY=          83.35      0.13         0.11 US 10YR           US10YT=RR      2.49     -0.77        -0.02 POT GOLD         XAU=        1316.20      0.05          0.60 US CRUDE          CLc1          81.50     -0.10        -0.08 DOW JONES         .DJI       10829.68      0.39        41.63 ASIA ADRS         .BKAS        129.94      1.11         1.43 FTSE 100          .FTSE       5592.90      0.80        44.28  ---------------------------------------------------------------  - (Reporting by Manila newsroom)                                                       

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